HCL Technologies Ltd, India's fourth-biggest software services provider, beat analysts' estimates with a 73 percent rise in quarterly profit after winning orders and reducing staff for the second quarter in a row.
Net profit rose to 10.4 billion rupees in its fiscal third-quarter ended March 31 from 6 billion rupees in the year-earlier period, said HCL Technologies, whose customers include Finnish mobile phone maker Nokia Oyj.
The result compared with the average forecast of 9.35 billion rupees in a survey of 16 analysts by Thomson Reuters I/B/E/S. HCL follows a July-June fiscal year.
It was also much faster than a 3 percent rise in quarterly profit at larger rival Infosys Ltd, which has been losing market share to the likes of HCL and industry leader Tata Consultancy Services Ltd. Shares of Infosys plunged 21 percent on Friday after it issued lower-than-expected revenue guidance.